UNFCCC COP29: Key Outcomes, Shortcomings & India’s Role

• Recently, the 29th Conference of the Parties (COP29) under the United Nations Framework Convention on Climate Change (UNFCCC) was held in Baku, Azerbaijan. The conference focused on fostering international cooperation and formulating strategies to combat the escalating impacts of climate change, emphasizing the urgency of unified global action for a sustainable future.

Key Outcomes of COP29

• Tripling Climate Finance: COP29 agreed to increase climate finance for developing countries from USD 100 billion to USD 300 billion annually by 2035 under the New Collective Quantified Goal (NCQG), addressing the urgent funding gap for climate action.
• Mobilisation of Additional Funds: Aimed to mobilise USD 1.3 trillion annually by 2035 from both public and private sources under the Baku Finance Goal, ensuring sustained financial support for climate mitigation and adaptation.
• Carbon Market Mechanisms: Finalised agreements on Article 6 of the Paris Agreement, resolving decade-long negotiations. These mechanisms enable bilateral carbon trading (Article 6.2) and a global crediting mechanism (Article 6.4), facilitating international cooperation in reducing emissions.
• Baku Adaptation Road Map: Introduced to enhance global climate resilience by promoting adaptive measures aligned with Article 7 of the Paris Agreement, focusing on vulnerable regions and sectors.
• Support for National Adaptation Plans (NAPs): Established a comprehensive program to implement NAPs, providing technical and financial assistance to Least Developed Countries (LDCs) for medium- and long-term climate adaptation strategies.
• Enhanced Transparency Framework (ETF): Concluded all negotiating items under ETF, mandating nations to transparently report their greenhouse gas emissions, mitigation efforts, and adaptation actions, fostering accountability.
• Biennial Transparency Reports (BTRs): First submissions by 13 countries under the ETF were recorded, marking a significant step in global climate reporting and compliance efforts.
• Global Climate Transparency Platform: Launched Baku Declaration & Global Climate Transparency Platform to streamline and support timely submissions of BTRs, reinforcing transparency commitments.
• Indigenous Peoples and Local Communities: Adopted the Baku Workplan and extended the mandate of the Facilitative Working Group under the Local Communities and Indigenous Peoples Platform (LCIPP) to integrate traditional knowledge and diverse values into climate policies.
• Gender and Climate Change: Renewed the enhanced Lima Work Programme on Gender for another 10 years, promoting gender equality & ensuring the integration of gender perspectives in climate action.

Challenges and Shortcomings of COP29

• Inadequate Climate Financing: The commitment to triple climate finance to $300 billion annually by 2035 falls short of the $1.3 trillion needed by developing nations and the $2.3–$2.5 trillion required annually by emerging markets to meet climate goals.
• Overreliance on Loans Instead of Grants: The financial package focuses on loans rather than grants, increasing the debt burden of developing countries already facing economic challenges.
• Failure to Address Fossil Fuel Phase-Out: COP29 did not repeat the historic agreement of COP28 on phasing out fossil fuels, reflecting a lack of consensus on mitigation measures.
• Unmet Emission Goals: Global emissions hit a new record in 2023, rising 1.3%, with many countries still off track to meet the 1.5°C target, highlighting insufficient progress in reducing emissions.
• Deadlock on Mitigation and Global Stocktake: COP29 saw a deadlock on the Mitigation Work Programme due to disagreements on fossil fuels, and the Global Stocktake failed to achieve consensus, delaying progress in climate action.
• Slow Operationalisation of Loss and Damage Fund (LDF): Progress on the LDF was slow, with concerns about inadequate funding to address climate-induced losses in vulnerable countries.
• Postponement of NDC Updates: The next round of NDCs has been deferred to COP30, delaying critical climate action and ambition.
• Global Emissions Inequities: G20 members accounted for 77% of global emissions, underscoring disparities in per capita and historical emissions among nations.
• Influence of Fossil Fuel Lobbyists: Alleged interference by fossil fuel lobbyists raised questions about the integrity of the negotiations and outcomes.
• Criticism of Host Nation: Azerbaijan, an oil-rich nation with authoritarian governance, was criticised as an inappropriate host for a climate conference focused on reducing fossil fuel reliance.

Way Forward

• Strengthen Climate Diplomacy: Foster dialogue to address climate finance and mitigation targets, especially for developing nations.
• Operationalize Loss and Damage Fund (LDF): Expedite LDF’s operationalisation to support vulnerable nations effectively.
• Enhance NDCs and Emission Reductions: Focus on emission cuts (42% by 2030, 57% by 2035) and improve reporting under the Enhanced Transparency Framework (ETF).
• Ensure Binding Renewable Energy Commitments: Make renewable energy pledges binding for all member countries.
• Uphold CBDR-RC: Ensure climate negotiations reflect the principle of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC).

Reference: PMF IAS: COP29 Climate Summit | The Hindu

UPSC Mains PYQs – Theme – UNFCCC (COP)

1. Explain the purpose of the Green Grid Initiative launched at World Leaders Summit of the COP26 UN Climate Change Conference in Glasgow in November, 2021. When was this idea first floated in the International Solar Alliance (ISA)? (2021)
2. Describe the major outcomes of the 26th session of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC). What are the commitments made by India in this conference? (2021)

PMF IAS Pathfinder for Mains – Question 20

Q. Assess the commitments made at COP29 regarding climate finance, such as the New Collective Quantified Goal (NCQG) and the Baku Finance Goal. To what extent do these address the financial needs of developing countries for climate mitigation and adaptation? (250 Words) (15 Marks)

Approach

• Introduction: Write a brief introduction about the importance of cyber security in India.
• Body: Discuss key commitments at COP29 and challenges in climate finance commitments.
• Conclusion: Write the way forward & conclude by emphasising need to move from pledges to fulfillment.